Change of Escrow/Trust and/or General Business Account is a legal document that was released by the New Jersey Department of Banking and Insurance - a government authority operating within New Jersey.
Q: What is an escrow account?
A: An escrow account is a type of account where funds are held by a third party until a certain condition is met.
Q: Why would there be a change of escrow account?
A: There could be a change of escrow account due to various reasons, such as switching to a different bank or financial institution.
Q: What is a trust account?
A: A trust account is a type of account where funds are held and managed by a trustee for the benefit of another party.
Q: Why would there be a change of trust account?
A: There could be a change of trust account due to reasons like a change in the trustee or transferring the funds to a different financial institution.
Q: What is a general business account?
A: A general business account is a type of bank account specifically designed for business transactions.
Q: Why would there be a change of general business account?
A: A change of general business account may occur due to various reasons, such as finding a more suitable banking option or switching banks for better services.
Form Details:
Download a printable version of the form by clicking the link below or browse more documents and templates provided by the New Jersey Department of Banking and Insurance.